Needham & Company LLC Reiterates Buy Rating for Axsome Therapeutics (NASDAQ:AXSM)

Axsome Therapeutics (NASDAQ:AXSM)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $153.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 31.18% from the company’s previous close.

AXSM has been the topic of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $153.00 price target on shares of Axsome Therapeutics in a research note on Wednesday, February 19th. Robert W. Baird upped their price target on shares of Axsome Therapeutics from $132.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Bank of America raised their price objective on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and set a $200.00 price target on shares of Axsome Therapeutics in a report on Thursday, March 6th. Finally, Mizuho boosted their price objective on shares of Axsome Therapeutics from $212.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axsome Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $167.64.

Axsome Therapeutics Stock Down 1.6 %

Axsome Therapeutics stock opened at $116.63 on Tuesday. The stock’s fifty day moving average is $120.16 and its two-hundred day moving average is $101.40. The stock has a market cap of $5.69 billion, a PE ratio of -19.47 and a beta of 1.00. Axsome Therapeutics has a 1-year low of $64.11 and a 1-year high of $139.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 2.11 and a quick ratio of 2.04.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. On average, sell-side analysts expect that Axsome Therapeutics will post -2.79 EPS for the current fiscal year.

Insider Activity at Axsome Therapeutics

In other news, CFO Nick Pizzie sold 3,000 shares of Axsome Therapeutics stock in a transaction on Friday, February 14th. The stock was sold at an average price of $131.07, for a total value of $393,210.00. Following the completion of the sale, the chief financial officer now owns 42,187 shares of the company’s stock, valued at $5,529,450.09. The trade was a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.40% of the company’s stock.

Institutional Trading of Axsome Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Raiffeisen Bank International AG purchased a new position in shares of Axsome Therapeutics during the 4th quarter worth about $51,000. Assetmark Inc. purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $52,000. R Squared Ltd purchased a new position in shares of Axsome Therapeutics in the 4th quarter worth $64,000. Aquatic Capital Management LLC acquired a new position in Axsome Therapeutics in the fourth quarter valued at $76,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Axsome Therapeutics during the fourth quarter valued at about $86,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.